HDFC Bank - Bullish Gartley / Failed ZEE / BlockBuster IREDA

WaveTalks Updated   
Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell.

WaveTalks - Market Whispers: Can you hear them?

HDFC Bank: Bullish Relief in Sight
The stock has formed a bullish Gartley pattern with a Potential Reversal Zone (PRZ) at 1375-1390. This zone, backed by historical support, offers a glimmer of hope for bulls following the recent market downturn. For a continued bullish view, it's essential that HDFC Bank holds within the 1375-1390 range.

In simple words, It's important the stock stays in this range (1375-1390) for a good chance to go up. Be careful with your trades.

ZEE Entertainment: A Missed Bullish Trigger
ZEE Entertainment failed to surpass the critical levels of 250 & 300 as suggested & didn't go up as we hoped., which were essential for a bullish move. Consequently, we had to manually close this trading idea. It serves as a reminder of the market's unpredictability and the need for vigilant trigger level monitoring.

IREDA: A Stellar Run
IREDA's performance has been nothing short of spectacular, with consecutive Upper Circuits from the purchase zone of 110-112.50. Remarkably, the stock rallied from the 114-116 area to close at 169, hitting our projected target zone of 165-175. This success story provided an exhilarating experience for those who seized the opportunity, showcasing the rewards of timely and strategic trading.

As we navigate through these market dynamics, let's stay informed and strategic in our decisions. Here's to a fruitful week ahead in the markets!

Market Whispers
11 am / 29th Jan 2024

Last @ 1452

HDFC stock could give another opportunity to buy if BankNifty retraces a bit as + 800 points upside so far.

Bank Nifty Update:

As discussed overnight , BankNifty almost pushed 800 points appx. in opening hour today 29th Jan 2024

Next , we will wait for some correction below 45700 or Plan you next buying only above 45700 for 46500+ target which will finish 1500+ points -target which was discussed overnight. Enjoy the Markets

Day High - 45660

or Plan your next buy only above 45700

Don't forget -------WaveTalks - Market Whispers! Can you hear them.
11:20 am / 29th Jan 2024

Last @ 1450

As discussed 20 minutes back above ..... Here is the chart for Bank Nifty & what we expect next as per plans explained above

Best Regards,
Abhishek H. Singh
​Growth Director - TradingView India

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